Weak global cues depress equity indices, auto stocks slump (Roundup)
Concerns of a renewed global trade war dampened investor sentiments in the international markets analysts said.
The key indices had opened on a positive note but could not hold on to the gains for long with heavy selling pressure on auto capital goods and consumer durables stocks.
Index-wise the wider Nifty50 of the NSE closed at 10 741.10 points down 30.95 points or 0.29 per cent from the previous close of 10 772.05 points.
Similarly the BSE Sensex which had opened at 35 644.05 points closed at 35 432.39 points -- down 114.94 points or 0.32 per cent from its previous session s close of 35 547.33 points.
The Sensex touched an intra-day high of 35 678.69 points and a low of 35 396.97 points. The BSE market breadth was bearish with 1 793 declines against 808 advances.
"Markets ended lower on Thursday after correcting from a high of 10 810 points (Nifty50). Weak global cues from trade tensions and oil price direction dampened the sentiments " said Deepak Jasani Head of Retail Research at HDFC Securities.
Major Asian markets have closed on a negative note and the European indices like FTSE 100 CAC 40 and DAX traded in the red he added.
On the currency front the Indian rupee appreciated by nine paise against the US dollar to 67.99 from its previous close of 68.08 per greenback.
Investment-wise provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 1 126.75 crore and the domestic institutional investors bought stocks worth Rs 663.57 crore.
Sector-wise the S&P BSE oil and gas index was the only gainer on Thursday ending 85.89 points higher from its previous close.
On the other hand S&P BSE auto slumped 223.81 points the capital goods index was down 196.03 points and the consumer durables index ended lower by 171.09 points.
Stock-wise the major gainers on the Sensex were ICICI Bank up 1.47 per cent at Rs 297.55; Reliance Industries up 1.22 per cent at Rs 1 032.35; HDFC up 0.35 per cent at Rs 1 853; Tata Motors up 0.31 per cent at Rs 306.55; and Infosys up 0.24 per cent at Rs 1 246.35 per share.
The top losers were Mahindra and Mahindra down 2.11 per cent at Rs 883.60; ONGC down 1.9 per cent at Rs 159.70; Power Grid down 1.88 per cent at Rs 195.85 State Bank of India down 1.67 per cent at Rs 268.70; and Sun Pharma down 1.6 per cent at Rs 554.60 per share.
--IANS rrb/him/mr